FINANCEOUTLOOKINDIASEPTEMBER, 20268REPORTGST COLLECTIONS JUMP 14.8% YOY TO NEARLY RS 2 TRILLION IN AUGUSTSTARTUP FUNDING IN AUGUST NEARS $1 BN AS 88 STARTUPS RAISES $955 MNUPI TRANSACTION VOLUME HITS RECORD 24.51 BILLION IN AUGUST: NPCI DATAMAPMYINDIA MAPPLS PARTNERS WITH CLARITYX TO LAUNCH GEO-FI FOR LENDINGINDIAN BANK PLANS 100 NEW BRANCHES AND 2,500 FRESH HIRESPM NARENDRA MODI HAILS INDIA'S 7.8% GDP GROWTH DESPITE GLOBAL CONFLICTThe Ministry of Finance on Tuesday released data showing that the India's GST collections surged 14.8% year-on-year to nearly Rs 2 trillion in August. But the collections were on the lower side compared to Rs 2.11 trillion in the previous month of July. GST collections from imports re-mained strong compared to domes-tic collections during the month. GST revenue at gross level increased by 9 per cent year-on-year to Rs 1.37 tril-lion while gross GST revenue from im-ports jumped 29 per cent to Rs 62,604 crore. Indian startup funding in August nears the $1 billion mark, recovering sharply after a slowdown in July. Indian startups secured around $955m for 88 transactions in the past month, of which $555m was sourced from growth and late-stage investments and $400m from early-stage deals, according to the reports. A total of 88 deals were disclosed, with eight deals not specifying funding amounts. UPI Transaction volumes hit a record high in August 2026, with the platform processing 24.51 billion UPI Transactions worth Rs 29.82 lakh crore, according to NPCI data. The August numbers surpassed July's 23.66 billion transactions. However, transaction value declined marginally from Rs 29.88 lakh crore recorded in July. On a daily basis, UPI processed an average of 791 million transactions in August, with average daily transaction value standing at Rs 96,205 crore. Compared to July, transaction volume rose 3.6% from 23.66 billion, while transaction value declined 0.2% from Rs 29.88 lakh crore. PM Narendra Modi on Monday said that despite the whole world being engaged in conflicts and facing disrupted supply chains, India's economy registered an impressive GDP growth of 7.8%. He credited citizens for this achievement, calling it a "demonstration of collective responsibility.The world today is beset by conflicts and crises, with news of war emerging from all directions and global supply chains facing severe disruptions. Since the COVID-19 pandemic in 2020, stability has remained elusive across much of the MapmyIndia Mappls, India's leading advanced digital maps and deep-tech products and platforms company in partnership with ClarityX, an AI-driven data analytics and decision intelligence company today announced the launch of Geo-Intelligence for Lending platform, Geo-Fi, India's First Comprehensive Geo-Intelligence Stack for Lending.Integrating spatial insights into the lending journey for the first time in India, Geo-FI platform empowers BFSI companies a truly comprehensive view of borrower risk and opportunity. Leading public sector bank Indian Bank plans to open around 100 new branches during the current financial year, with the bank focusing its ugust saw a couple of $100 million-plus deals, including River Mobility and Navi, pushing India's startup funding closer to the $1 bil-lion mark. Early-stage deals made up about 42% of the total monthly funding, with rounds in Airbound, Centricity Labs and InRisk Labs be-ing the top draws. world. Yet, India has continued to move forward and make rapid progress
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